Granite Bay Wealth Management LLC Increases Stock Position in Amgen Inc. (NASDAQ:AMGN)

Granite Bay Wealth Management LLC grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 6.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,069 shares of the medical research company’s stock after purchasing an additional 1,005 shares during the period. Amgen makes up about 1.6% of Granite Bay Wealth Management LLC’s holdings, making the stock its 23rd biggest position. Granite Bay Wealth Management LLC’s holdings in Amgen were worth $4,188,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Capital Performance Advisors LLP acquired a new position in Amgen during the third quarter worth about $25,000. Hershey Financial Advisers LLC acquired a new stake in shares of Amgen in the 2nd quarter worth approximately $30,000. Legacy Investment Solutions LLC purchased a new position in Amgen in the 3rd quarter valued at approximately $29,000. Matrix Trust Co purchased a new position in Amgen in the 3rd quarter valued at approximately $36,000. Finally, Livelsberger Financial Advisory acquired a new stake in Amgen in the third quarter valued at $56,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 3.0 %

NASDAQ AMGN opened at $270.19 on Tuesday. The firm has a market capitalization of $145.24 billion, a PE ratio of 34.60, a price-to-earnings-growth ratio of 2.91 and a beta of 0.56. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company has a 50-day simple moving average of $278.16 and a 200-day simple moving average of $308.35. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the firm earned $4.96 EPS. On average, equities analysts forecast that Amgen Inc. will post 19.53 earnings per share for the current year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.52%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s payout ratio is presently 121.90%.

Analyst Ratings Changes

Several brokerages have issued reports on AMGN. Leerink Partners reduced their price target on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Sanford C. Bernstein started coverage on Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target for the company. Citigroup dropped their price objective on Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. StockNews.com lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Finally, Redburn Partners lowered their price target on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and an average target price of $314.91.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.